Colorado Mining paid $470,000 to acquire a mine with 47000 tons of coal reserves. The following statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 24,675 tons of coal in year 1 and 21,150 tons in year 2. Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements. b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. The first event is recorded as an example. Req A Req B1 Req B2 Compute the depletion charge per unit. per ton. Depletion charge per unit Req A Req B1 Req B2 Compute the depletion expense for years 1 and 2 in a financial statements. Depletion Expense Year 1 Year 2 Req A Req B1 Req B2 Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. The first event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity and NA to indicate the element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign. Round final answers to the nearest whole dollar amount.) Show lessA COLORADO MINING Statements Model Balance Sheet Income Statement Statement of Cash Flows Assets Stockholders' Equity Retained Revenue-Expenses Earnings Net Income Cash+ Coal Liabiliti Stock 750,300 + Reserves 750,300+ Depletion for Year 1 Depletion for Year 2